A
collective share in the global flat panel x-ray detectors market of
56.1% in 2015 was held by Konica Minolta, Inc., PerkinElmer, Olympus
Corporation, and Rayence, Inc. Their strong presence in the market
has overshadowed the much smaller shares held by regional players in
the key regions of North America and Europe.
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As
stated in a research report published by Transparency Market
Research, the global flat panel x-ray detectors market is likely to
continue being dominated by these players in terms of size and
revenue generation rates. The degree of rivalry between them is
expected to be very high over the coming years, while players are
trying to cater to the growing demand for new, improved, advanced
flat panel detectors. The leaders in the market are largely
interested in creating cost-effective solutions in order to penetrate
the markets in emerging economies.
The
global flat panel x-ray detectors market is expected to reach US$1.08
bn by the end of 2016. The market’s value is expanding at a CAGR of
5.9% within a forecast period from 2016 to 2024 and will lead the
market to reach US$1.7 bn in 2024.
Technological
Improvements in Flat Panel X-Ray Detectors Find Greater Regional
Contact
“Many
markets have taken up the advantages to civilization brought about by
globalization and attaining a global commercial perspective,
including the global flat panel x-ray detectors market. The
introduction of newer technologies is being received positively by
all key regions, thereby creating a surge in uptake for all advanced
X-ray systems. Digital X-ray systems are far more advanced than the
older analog technologies and have been successfully introduced to
the large client pools from emerging economies,” states a TMR
analyst.
The
global flat
panel x-ray detectors market is also being driven by the
steadily lowering price caps of flat panel technologies, primarily
due to an increase in their manufacturing rate as taken up by nations
such as India and China. The market is also benefitting from the
current advancements in radiology. One of the key application
segments that players from the global flat panel x-ray detectors
market need to look out for is the manufacturing sector.
Manufacturers are increasingly adopting flat panel x-ray detectors in
order to improve product quality to get an edge over competitors.
This is seen especially in the manufacture of automobiles, healthcare
devices, and defense and aerospace equipment. Security companies are
also taking up flat panel x-ray detectors amid the growing concerns
over safety and anti-infiltration advancements in aerospace.
Advancements
Slowed by High Regulatory Pressure
One
of the key factors hindering the overall growth rate of the global
flat panel x-ray detectors market is the extremely strict regulatory
framework surrounding them. Flat panel detectors technically fall
into the category of radiation emission and radiation devices. This
puts an additional strain on manufacturers into building devices
considered as safe under these norms.
“The
emerging economies are currently showing a great deal of promise to
ramp up their demand for flat panel x-ray detectors. India, China,
Brazil, and South Africa are among the key countries that global
entities are targeting in terms of increasing sales of flat panel
x-ray detectors as well as introducing manufacturing facilities.
Countries in the Asia Pacific regions are showing an especially
positive outlook towards adopting newer technologies, thereby
improving the revenue generation scope of current players,” adds
the analyst.
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